Economics is sometimes referred to as "the dismal science" in correlation to an old theory that as the rate of population of humans keeps increasing relative to food and resource growth, humans may die out of starvation. In theory, economics is meant to accurately describe the production, consumption, and transfer of wealth in markets. But what people often overlook is that economics is driven by incentives -- it is a way of studying how people interact with markets and make markets work. It has to do with how allocation of resources, factors of production, and market measures are implemented by governments, businesses, and people to provide utility to people and maximize efficiency. The quantitative measures of price, supply, demand, etc. are all implemented to acquire subjective knowledge of peoples' incentives and how markets work to provide utility to people, by means of movement of assets and monetary value.
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